Xiangtan Electric Manufacturing Co Ltd

Xiangtan Electric Manufacturing disclosed its semi-annual report for 2026 on August 29. In the first half of the year, it achieved total operating revenue of 2.245 billion yuan, down 11.77% year-on-year. Net profit attributable to the parent company was 11.37 million yuan, down 93.97% year-on-year. Net profit after deducting non-recurring items was a loss of 13.09 million yuan, compared with a profit of 105 million yuan in the same period last year. Net cash flow from operating activities was negative 641 million yuan, compared with negative 180 million yuan in the same period last year. During the reporting period, the company's total non-recurring gains and losses were 24.45 million yuan, of which government subsidies were 24.91 million yuan. As of August 28, the company's price-to-earnings ratio on a trailing twelve-month basis was about 269.19 times, and its price-to-book ratio was about 1.32 times. In addition, the second-largest shareholder, Xiangtan Electric Manufacturing Group, pledged 177 million shares, accounting for 97.8% of its total holdings, and 11.99% of the company's shares are in a pledged state.